On Tuesday, KeyBanc Capital Markets updated its outlook on Zscaler (NASDAQ:), a leader in cloud-based security services with a current market capitalization of $32 billion. The firm raised its price target on the company’s stock to $250 from the previous $245, while maintaining an Overweight rating. According to InvestingPro data, analyst targets for Zscaler currently range from $177 to $270, reflecting diverse market expectations.

The adjustment follows Zscaler’s recent financial performance which included a solid, if modest, billings beat and upward revision of future earnings. The company’s first-quarter billings surpassed expectations, which stands out amidst a backdrop of mixed security earnings results reported this quarter by…